“Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of [US dollar] deposits and withdrawals as we have in the past,” wrote Roman Shtylman, the exchange’s founder. “As such, I have made the decision to halt operations and return all funds. Over the next days we will be working with all clients to ensure that everyone receives their funds. Please be patient as we process your request.”

Ars reached out to Shtylman to find out more details, but he did not immediately respond.

Bitfloor had seen problems of its own, however. Last year, the site lost 25,000 bitcoins when its trading server was compromised by unknown hackers. Collectively, those bitcoins would be worth over $2 million at present-day exchange rates.

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Cyrus Farivar
Cyrus is a Senior Tech Policy Reporter at Ars Technica, and is also a radio producer and author. His latest book, Habeas Data, about the legal cases over the last 50 years that have had an outsized impact on surveillance and privacy law in America, is out now from Melville House. He is based in Oakland, California. Emailcyrus.farivar@arstechnica.com//Twitter@cfarivar